As of January 1, 2024, more than 32 million existing entities, including certain construction firms, are required to report the personal information of beneficial owners to a new federal database by January 1, 2025. Are you ready?

As of January 1, 2024, more than 32 million existing entities are required to report the personal information of beneficial owners to a new federal database by January 1, 2025. Entities created this year will have to file within 90 days of creation.

The rule issued by the Financial Crimes Enforcement Network (FinCEN) sets forth Beneficial Ownership Information (BOI) reporting requirements mandated by the Corporate Transparency Act (CTA). This rule affects a broad spectrum of businesses, including many owned by general contractors, and it is important to understand the scope of the rule as well as how to comply not just for the initial filing but for ongoing compliance.

Join AGC’s webinar on April 4, 2024, to:

• Discuss what is the Corporate Transparency Act.
• Discuss who is required to report BOI and who isn’t required to report BOI.
• Learn when, where, and how BOI reports are filed.

The webinar will be presented by Sandra Feldman, an attorney and BOI expert with Law Firm Wolters Kluwer.

If you have any questions, please contact Matthew Turkstra at (202) 547-4733, or [email protected]